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| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Industri |
| Industri | Industriprodukter |
CTT SYSTEMS AB (“CTT”), the market leader of aircraft humidity control systems, puts its development of the Anti-Fuselage-Condensation system for line-fit on the Airbus A320 Family on hold. CTT was notified by Airbus that the DAGS (Dry Air Generation System) Moisture Control System has been removed from the options baseline on the A321XLR aircraft. This follows Airbus’ recent decision to opt only for passive means for condensation reduction for this aircraft type. CTT regrets the decision and engages to obtain that Airbus remains committed and resumes DAGS development, while reserving its rights.
On February 3, 2020, CTT announced that Airbus selects CTT to provide Anti-Fuselage-Condensation products as part of DAGS Moisture Control System for line-fit on A320 Family aircraft. The DAGS Moisture Control System was planned to be developed and certified for use on the A321XLR (Extra Long Range) aircraft. As Airbus updated A321XLR baseline requirements, opting only for passive condensation reduction means, DAGS was removed from the A321XLR options baseline. This has caused Airbus to request CTT to discontinue the DAGS development.
CTT regrets this decision by Airbus and consequently halts its related development activities. CTT engages to secure that Airbus remains committed and starts a new project to enable DAGS for optional line-fit on A320 Family aircraft. In parallel, CTT prepares for contract cancellation negotiations with Airbus, in order to reach a mutually acceptable agreement.
“I am concerned about this situation but will continue to engage with Airbus to agree a constructive way forward.”, says Torbjörn Johansson, CEO CTT Systems AB. “I am convinced that our Anti-Fuselage-Condensation technology is requested by many A320 customers.”
About Anti-Condensation Protection
The CTT Anti-Condensation system keeps the crown area dry, removes trapped water in blankets, and significantly reduces risk for unwanted excess weight from water accumulation. Lowered excess aircraft weight reduces block fuel consumption and cuts carbon dioxide emissions. Additional costs savings comes from lower repair costs of moisture related damages in electrical components and equipment, repair/replace of blankets and reduced down-time due to electrical failures.
About CTT SYSTEMS
CTT Systems is the market leading provider of humidity control products in aircraft, including Moisture Control Systems to prevent fuselage condensation, and inflight humidifiers – Humidifier On-board - for crew and passenger well-being. All products are available for retrofit installations and line-fit on Airbus A380, A350, Boeing 787 and 777X. The crew humidifier is standard equipment in a crew rest compartment on Boeing 787 and standalone option in the crew rest compartment on A380, A350XWB and B777X. The flight deck humidifier is SFE listed on Airbus A350XWB, Boeing 787 and Boeing 777X. Inflight Humidification (IFH) – Humidifier On-board - is SFE listed for First/Business Class on A350XWB (Zone 1-3) and Boeing 777X (Zone 1 and 2). The Anti-Fuselage-Condensation system is SFE listed on A350 and is SFE-awarded line-fit installation on the A320 Family.
Also visit: www.ctt.se
For additional information:
Torbjörn Johansson CEO CTT Systems AB.
Tel. +46-155-205901 alt. mobile. +46-70-665 24 46, or E-mail torbjorn.johansson@ctt.se
This information is disclosed by CTT Systems AB in accordance with the EU Market Abuse Regulation (MAR) and the Swedish Securities Markets Act, the Swedish Financial Instruments Trading Act, or the requirements stated in the listing agreements. The information was submitted for publication on August 17, 2020 at 08:30 (CET).